Growth in Commercial Real Estate to Boost the Global Fire Extinguishers Market Through 2020, Says Technavio

Technavio publishes a new market research report on the global fire extinguishers market from 2016-2020. (Graphic: Business Wire)

LONDON--()--According to the latest market study released by Technavio, the global fire extinguishers market is expected to grow at a CAGR of more than 7% during the forecast period.

This research report titled ‘Global Fire Extinguishers Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

According to Sarah Haque, a lead analyst at Technavio for automation research, “With stable economies and lower capital and operating costs, emerging countries in APAC and Latin America are expected to be the ideal investment destinations for the global fire extinguishers market. The presence of fewer market players, higher growth potential, and better manufacturing potential will differentiate these destinations from other regional markets.”

Request a sample report: http://www.technavio.com/request-a-sample?report=54450

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

The report categorizes the global fire extinguishers market into three major end-user segments. They are:

  • Industrial
  • Commercial
  • Residential

Global fire extinguishers market for industrial users

Industrial users are the largest user segment of the global fire extinguishers market, contributing about 50% of the overall market revenue. Industrial users include manufacturing and testing facilities, research labs, and other storage structures. The driving factors for this user segment is the growth in the number of manufacturing units, research and testing facilities, and laboratories.

Fire extinguishers for industrial applications are larger in size to accommodate more extinguishing agent. Carbon dioxide and dry chemical fire extinguishers are the most common type of fire extinguishers used in this segment. Industrial fire hazards are the most dangerous, and industrial safety protocols and regulations are much more stringent compared to commercial and residential buildings.

Global fire extinguishers market for commercial users

The commercial users of fire extinguishers include commercial buildings used as office space or outlets. This was the second-largest end-user segment of the global fire extinguishers market in 2015, contributing 30% of the overall market revenue. “With the increase in investments in commercial real estate, this segment is expected to increase its contribution by more than 6% during the forecast period,” says Sarah.

The key driver for this segment is the growing investments in the commercial real estate market. The rising demand for commercial properties and office space will increase the number of healthcare facilities and technology and software-based organizations. These commercial buildings need to be equipped with a certain number of fire extinguishers on every floor based on the area of the floor and the regulations in the respective regions. This requirement is the single largest growth driver for the fire extinguishers market in this user segment.

Global fire extinguishers market for residential users

The residential segment comprises residential apartments, houses, and passenger and commercial vehicles. Several countries in North America and Europe have fire safety standards that mandate the installation of fire extinguishers in residential buildings and houses. Though no such regulations are in effect in other regions, every country has regulations that recommend the presence of fire extinguishers in vehicles, usually under the passenger seat of the vehicle. Further, APAC and Latin America will witness the introduction of more stringent safety regulations over the forecast period, which will drive the market.

Vendors in developing market are focusing on increasing the penetration of fire extinguishers in this segment since competition is low and rate of adoption is high compared to other segments.

The top vendors highlighted by Technavio’s industrial automation research analysts in this report are:

  • Amerex
  • Tyco Fire Protection
  • Minimax
  • BRK
  • Desautel

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global fire extinguishers market is expected to grow at a CAGR of more than 7% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com